Equity LifeStyle Properties (NYSE:ELS) Issues Q4 Earnings Guidance

Equity LifeStyle Properties (NYSE:ELS) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.73-$0.79 for the period, compared to the consensus EPS estimate of $0.74.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELS. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday. They set a “hold” rating and a $72.00 target price on the stock. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Evercore ISI raised their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Truist Financial upped their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus price target of $71.56.

Equity LifeStyle Properties Stock Down 2.8 %

ELS stock traded down $1.95 during mid-day trading on Monday, reaching $68.02. The company had a trading volume of 1,758,393 shares, compared to its average volume of 1,206,151. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $76.60. The stock has a 50 day simple moving average of $71.30 and a two-hundred day simple moving average of $66.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts predict that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.4775 per share. The ex-dividend date was Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.81%. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is owned by insiders.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.